Any Failure to Comply with This Restriction May Constitute a Violation of U.S. Securities Laws. Palisades Ventures Inc. Palisades Updates Status of Business Transaction and Non-Brokered Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

PALISADES VENTURES INC.

PALISADES UPDATES STATUS OF BUSINESS TRANSACTION AND NON-BROKERED PRIVATE PLACEMENT

Vancouver, British Columbia – April 24, 2017 – Palisades Ventures Inc. (TSX.V: PSV) (“Palisades” or the “Company”) announces that further to its news releases dated January 4, 2017 and February 28, 2017 announcing the proposed business transaction (the “Transaction”) with Intermont Exploration, LLC and 1027344 B.C. Ltd., the Company has filed its initial submission and filing statement with the TSX Venture Exchange.

The Company will not be seeking shareholder approval of the Transaction due to the following reasons:

(i) the Transaction is not a related party transaction and no other circumstances exist which may compromise the independence of the Company or other interested parties with respect to the Transaction;

(ii) the Company is without active operations; (iii) the Company is not subject to a cease trade order and will not be suspended from trading on completion of the Transaction; and (iv) shareholder approval of any aspect of the Transaction is not required under applicable corporate or securities laws.

Concurrent with the Transaction, the Company will complete a private placement of a minimum of 6,666,666 units (the “Units”) for gross minimum proceeds of $1,000,000 and a maximum of 13,333,333 Units for gross maximum proceeds of $2,000,000 at a price of $0.15 per Unit (the “Private Placement”). Each Unit will consist of one post-consolidation Palisades common share (a “Share”) and one-half of one post-consolidation Palisades common share purchase warrant. Each whole warrant (a “Warrant”) is exercisable into an additional Share for a period of 24 months at a price of $0.25 per Share. If the Company’s shares trade at a closing price equal to or greater than $0.40 for ten consecutive trading days, then the Company may accelerate the expiry date of the Warrants by providing 30 days’ notice to the holders.

In addition to other prospectus exemptions commonly relied on in private placements, the Private Placement will be available to existing shareholders of the Company who, as of the close of business on January 4, 2017, held common shares of the Company (and who continue to hold such common shares as of the closing date), pursuant to the prospectus exemption set out in BC Instrument 45-534 - Exemption from prospectus requirement for certain trades to existing security holders and in similar instruments in other jurisdictions in Canada (the “Existing Shareholder Exemption”). The Existing Shareholder Exemption limits a shareholder to a maximum investment of $15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the Existing Shareholder Exemption exceeding the maximum amount of the Private Placement, the Company may adjust the subscriptions received on a pro-rata basis.

The Company will also make the Private Placement available to certain subscribers pursuant to BC Instrument 45-536 - Exemption from prospectus requirement for certain distributions through an investment dealer (the “Investment Dealer Exemption”). In accordance with the requirements of the Investment Dealer Exemption, the Company confirms that there is no material fact or material change about the Company that has not been generally disclosed.

Palisades may pay a finder’s fee in the amount of up to 6% of the Private Placement in cash and by the issuance of that number of warrants equal to 6% of the number of Units sold under the Private Placement, with each warrant being exercisable to acquire one Share for a period of 24 months at a price of $0.15 per Share.

Proceeds of the Private Placement will be used for a phase 1 work program on the Hurricane Project and for general working capital. Additional information regarding the work program will be disclosed in a Geological Report to be filed on SEDAR and summarized in a filing statement to be prepared for shareholders of Palisades and filed on SEDAR.

For further information about Palisades and the Transaction, please contact:

Gordon Steblin Palisades Ventures Inc.

2300 – 1066 West Hastings Street, Vancouver, B.C. V6E 3X2 Tel: 778 888-9710

Completion of the Transaction is subject to a number of conditions, including TSX-V acceptance and confirmation from the TSX-V that no shareholder approval is required. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the Transaction, any information released with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Palisades should be considered highly speculative.

The TSX Venture Exchange has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.

Neither the TSX Venture Exchange, not its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although Palisades believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.